The report for Non-Manufacturing data from the Institute of Supply Management, the ISM, is showing a hotter than expected reading. The full index came in 57.3 rather than the drop expected. Bloomberg and Dow Jones both had a consensus target of 56.0 and the reading for January was 56.8.
The non-manufacturing ISM survey is comprised from over 375 firms from numerous sectors: agriculture, mining, construction, transportation, communications, wholesale trade and retail trade. The non-manufacturing index has four equally weighted components: business activity, new orders, employment, and supplier deliveries
The business component was up to 62.6 from 59.5; employment managed to drop to 55.7 from 57.4; the prices component was 68.4 verus 63.5; and the new orders component was up to 61.2 from 59.4.
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
